Key benchmark indices jumped in early trade, supported by positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 320.12 points or 0.93% at 34,752.09. The Nifty 50 index was up 90.75 points or 0.87% at 10,471.20.

Among secondary barometers, the BSE Mid-Cap index was up 1.26%. The BSE Small-Cap index was up 1.05%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 910 shares rose and 205 shares fell. A total of 31 shares were unchanged.

Overseas, Asia shares were trading higher on Friday on the back of Wall Street gains and comments from US President Donald Trump indicating potential progress in his trade negotiations with China.

US stocks rallied to close higher Thursday, with the S&P 500 gaining for its third straight session for the first time in six weeks, on cautious optimism that US-China trade tensions could ease in the near term.

Stocks added modestly to their gains after President Donald Trump, in a Thursday morning tweet, hinted at progress in early trade talks with China. The president also said in his morning tweet that trade discussions are moving along nicely and meetings between the two leaders at the upcoming G-20 summit are being scheduled.

On the US data front, the ISM manufacturing index fell to a six-month low of 57.7%. Respondents cited rising costs as a concern. The IHS Markit final US Manufacturing Purchasing Managers' Index printed at 55.7 for October, up slightly from 55.6 in September. A reading of at least 50 indicates improving conditions.

Nonfarm productivity growth grew at a 2.1% annualized rate in the third quarter. Unit labor costs rose by 1.2%.

The number of newly unemployed Americans seeking jobless benefits fell in the seven days ended 27 October to 212,000.

Back home, Hindustan Petroleum Corporation (HPCL) was up 2.14%. The company reported 37.05% fall in net profit to Rs 1091.98 crore on 41.4% rise in total income to Rs 67931.38 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 1 November 2018.

GlaxoSmithkline Consumer Healthcare was up 1.68%. The company reported 43.18% rise in net profit to Rs 275.49 crore on 16.41% rise in total income to Rs 1361 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 1 November 2018.

Aarti Industries was up 5.45%. The company reported 56.57% rise in net profit to Rs 122.92 crore on 46.37% rise in total income to Rs 1299.76 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 1 November 2018.

SRF was up 5.69%. The company reported 20.94% rise in net profit to Rs 108.54 crore on 50.86% rise in total income to Rs 1591.69 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 1 November 2018.

Deepak Nitrite was up 2.33%. Deepak Phenolics (DPL), a wholly-owned subsidiary of Deepak Nitrite announced commencement of commercial production at its Mega-Plant for Phenol & Acetone. This facility has capacity to manufacture 200,000 MTPA of Phenol and 120,000 MTPA of its co-product Acetone. This is supported by capacity to manufacture 260,000 MT of Cumene for captive consumption. The announcement was made after market hours yesterday, 1 November 2018.